weekly market
Visit the weekly market Saturday? - not much you would want to buy, some local weaving possibly, but an invaluable insight into local life. Make sure you visit the donkey park.
Holidays
Jan 7th, Christmas or "Ledet", Jan 19, Epiphany or "Timkat" are two of the most festive. Lalibela in particular gets packed during these times, so best to plan in advance.